US Patent Issued to MasterCard International on Aug. 18 for "Network security systems and methods for detecting fraud" (Connecticut Inventors)

ALEXANDRIA, Va., Aug. 18 -- United States Patent no. 12,711,511, issued on Aug. 18, was assigned to MasterCard International Inc. (Purchase, N.Y.).

"Network security systems and methods for detecting fraud" was invented by Mario Segal (Stamford, Conn.) and Ziying Li (Stamford, Conn.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A system for detecting fraud within a payment card network includes a memory storing historical transaction data and a processor configured to identify a set of historical transaction data, the set of historical transaction data include one or more test transactions labeled as having been used to test validity of an underlying account, train a model using the identified set of histor...